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WFP says a ‘deepening hunger crisis’ is unfolding and that it may have to pause food aid due to record low funding.
Published On 7 Nov 20257 Nov 2025
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The number of people facing emergency levels of hunger in the eastern Democratic Republic of Congo has nearly doubled since last year, the United Nations has warned.
The UN’s World Food Programme (WFP) said on Friday a “deepening hunger crisis” was unfolding in the region, but warned it was only able to reach a fraction of those in need due to acute funding shortages and access difficulties.
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“We’re at historically low levels of funding. We’ve probably received about $150m this year,” said Cynthia Jones, country director of the WFP for the DRC, pointing to a need for $350m to help people in desperate need in the West African country.
“One in three people in DRC’s eastern provinces of North Kivu, South Kivu, Ituri, and Tanganyika are facing crisis levels of hunger or worse. That’s over 10 million people,” Jones said.
“Of that, an alarming three million people are in emergency levels of hunger,” she told a media briefing in Geneva.
She said this higher level meant people were facing extreme gaps in food consumption and very high levels of malnutrition, adding that the numbers of people that are facing emergency levels of hunger is surging.
“It has almost doubled since last year,” said Jones. “People are already dying of hunger.”
The area has been rocked by more than a year of fighting. The Rwanda-backed M23 armed group has seized swaths of the eastern DRC since taking up arms again in 2021, compounding a humanitarian crisis and the more than three-decade conflict in the region.
The armed group’s lightning offensive saw it capture the key eastern cities of Goma and Bukavu, near the border with Rwanda. It has set up an administration there parallel to the government in Kinshasa and taken control of nearby mines.
Rwanda has denied supporting the rebels. Both M23 and Congolese forces have been accused of carrying out atrocities.
Jones said the WFP was facing “a complete halt of all emergency food assistance in the eastern provinces” from February or March 2026.
She added that the two airports in the east, Goma and Bukavu, had been shut for months.
WFP wants an air bridge set up between neighbouring Rwanda and the eastern DRC, saying it would be a safer, faster and more effective route than from Kinshasa, on the other side of the vast nation.
In recent years, the WFP had received up to $600m in funding. In 2024, it received about $380m.
UN agencies, including the WFP, have been hit by major cuts in US foreign aid, as well as other major European donors reducing overseas aid budgets to increase defence spending.
Los Angeles mayoral candidate Austin Beutner took aim at the rising cost of basic city services Thursday, saying Mayor Karen Bass and her administration have contributed to an affordability crisis that is “crushing families.”
Beutner, appearing outside Van Nuys City Hall, pointed to the City Council’s recent decision to increase trash collection fees to nearly $56 per month, up from $36.32 for single-family homes and duplexes and $24.33 for three- and four-unit apartment buildings.
Since Bass took office in December 2022, the city also hiked sewer service fees, which are on track to double over a four-year period. In addition, Beutner said, the Department of Water and Power pushed up the cost of water and electrical service by 52% and 19%, respectively.
“I’m talking about the cost-of-living crisis that’s crushing families,” he said. “L.A. is a very, very special place, but every day it’s becoming less affordable.”
Beutner, speaking before a group of reporters, would not commit to rolling back any of those increases. Instead, he urged Bass to call a special session of the City Council to explain the decisions that led to the increases.
“Tell me the cost of those choices, and then we can have an informed conversation as to whether it was a good choice or a bad choice — or whether I’d make the same choice,” said Beutner, who has worked as superintendent of L.A. schools and as a high-level deputy mayor.
When the City Council took up the sewer rates last year, sanitation officials argued the increase was needed to cover rising construction and labor costs — and ramp up the repair and replacement of aging pipes.
This year sanitation officials also pushed for a package of trash fee hikes, saying the rates had not increased in 17 years. They argued that the city’s budget has been subsidizing the cost of residential trash pickup for customers in single-family homes and small apartments.
Doug Herman, spokesperson for the Bass reelection campaign, defended the trash and sewer service fee increases, saying both were long overdue. Bass took action, he said, because previous city leaders failed to make the hard choices necessary to balance the budget and fix deteriorating sewer pipes.
“Nobody was willing to face the music and request the rate hikes to do that necessary work,” he said.
DWP spokesperson Michelle Figueroa acknowledged that electrical rates have gone up. However, she said in an email, the DWP’s residential rates remain lower than other utilities, including Southern California Edison and San Diego Gas & Electric.
By focusing on cost-of-living concerns, Beutner’s campaign has been emphasizing an issue that is at the forefront of next week’s election for New York City mayor. In that contest, State Assembly member Zohran Mamdani has promised to lower consumer costs, in part by freezing the rent for rent-stabilized apartments and making rides on city buses free.
Since announcing his candidacy this month, Beutner has offered few cost-of-living policy prescriptions, other than to say he supports “in concept” Senate Bill 79, a newly signed state law that allows taller, denser buildings to be approved near public transit stops. Instead, he mostly has derided a wide array of increases, including a recent hike in parking rates.
Beutner contends that the city’s various increases will add more than $1,200 per year to the average household customer’s bill from the Department of Water and Power, which includes the cost not just of utilities but also trash removal and sewer service.
Herman pushed back on that estimate, saying it relies on “flawed assumptions,” incorporating fees that apply to only a portion of ratepayers.
In a new campaign video, Beutner warned that city leaders also are laying plans to more than double what property owners pay in street lighting assessments. He also accused the DWP of relying increasingly on “adjustment factors” to increase the amount customers pay for water and electricity, instead of hiking the base rate.
The DWP needs to be more transparent about those increases and why they were needed, Beutner said.
WASHINGTON — The first caller on a telephone town hall with Maryland Rep. Andy Harris, leader of the House’s conservative Freedom Caucus, came ready with a question about the Affordable Care Act. Her cousin’s disabled son is at risk of losing the insurance he gained under that law, the caller said.
“Now she’s looking at two or three times the premium that she’s been paying for the insurance,” said the woman, identified as Lisa from Harford County, Md. “I’d love for you to elucidate what the Republicans’ plan is for health insurance?”
Harris, a seven-term Republican, didn’t have a clear answer. “We think the solution is to try to do something to make sure all the premiums go down,” he said, predicting Congress would “probably negotiate some off-ramp” later.
His uncertainty reflected a familiar Republican dilemma: Fifteen years after the Affordable Care Act was enacted, the party remains united in criticizing the law but divided on how to move forward. That tension has come into sharp focus during the government shutdown as Democrats seize on rising premiums to pressure Republicans into extending expiring subsidies for the law, often referred to as Obamacare.
President Trump and GOP leaders say they’ll consider extending the enhanced tax credits that otherwise expire at year’s end — but only after Democrats vote to reopen the government. In the meantime, people enrolled in the plans are already being notified of hefty premium increases for 2026.
As town halls fill with frustrated voters and no clear Republican plan emerges, the issue appears to be gaining political strength heading into next year’s midterm elections.
“Premiums are going up whether it gets extended or not,” said GOP Sen. Rick Scott. “Premiums are going up because healthcare costs are going up. Because Obamacare is a disaster.”
At the center of the shutdown — now in its fourth week with no end in sight — is a Democratic demand that Affordable Care Act subsidies passed in 2021 be extended.
Trump has long promised an alternative. “The cost of Obamacare is out of control, plus, it’s not good Healthcare,” he wrote on Truth Social in November 2023. “I’m seriously looking at alternatives.”
Pressed on healthcare during a September 2024 presidential debate, Trump said he had “concepts of a plan.”
But nearly 10 months into his presidency, that plan has yet to come. Dr. Mehmet Oz, administrator of the Centers for Medicare and Medicaid Services, told NBC on Wednesday, “I fully believe the president has a plan,” but didn’t go into details.
Republicans say they want a broader overhaul of the healthcare system, though such a plan would be difficult to advance before next year. Party leaders have not outlined how they’ll handle the expiring tax credits, insisting they won’t negotiate on the issue until Democrats agree to end the shutdown.
A September analysis from the nonpartisan Congressional Budget Office estimated that permanently extending the tax credits would increase the deficit by $350 billion from 2026 to 2035. The number of people with health insurance would rise by 3.8 million in 2035 if the credits are kept, CBO projected.
House Speaker Mike Johnson told a news conference Monday that the tax credits are “subsidizing bad policy.” Republicans “have a long list of ideas” to address healthcare costs, he said, and are “grabbing the best ideas that we’ve had for years to put it on paper and make it work.”
“We believe in the private sector and the free market and individual providers,” he added.
With notices of premium spikes landing in mailboxes now and the open enrollment period for Affordable Care Act health plans beginning Nov. 1, the political pressure has been evident in Republican town halls.
In Idaho, Rep. Russ Fulcher told concerned callers that “government-provided healthcare is the wrong path” and that “private healthcare is the right path.” In Texas, freshman Rep. Brandon Gill responded to a caller facing a sharp premium increase by saying Republicans are focused on cutting waste, fraud and abuse.
Harris echoed a message shared by many in his party during his Maryland town hall, saying costs are “just going back to what it was like before COVID.”
But the number of people who rely on Affordable Care Act health insurance has increased markedly since before the pandemic. More than 24 million people were enrolled in the marketplace plans in 2025, up from about 11 million in 2020, according to an analysis from the health care research nonprofit KFF.
Sara from Middleville, Mich., told Rep. John Moolenaar during his town hall that if health insurance premiums go up by as much as 75%, most people will probably go without healthcare. “So how do you address that?” she asked.
Moolenaar, who represents a district he handily won last year, responded: “We have time to negotiate, figure out a plan going forward and I think that’s something that could occur.”
Some Republicans have shown urgent concern. In a letter sent to Johnson, a group of 13 battleground House Republicans wrote that the party must “immediately turn our focus to the growing crisis of health care affordability” once the shutdown ends.
“While we did not create this crisis, we now have both the responsibility and the opportunity to address it,” the lawmakers wrote.
Some Republicans dismiss projections that ACA premiums will more than double without the subsidies, calling them exaggerated and arguing the law has fueled fraud and abuse that must be curbed.
Many Democrats credited their ability to flip the House in 2018 during Trump’s first term to the GOP’s attempt at repealing Obamacare, and they’re forecasting a similar outcome this time.
About 4 in 10 U.S. adults say they trust the Democrats to do a better job handling healthcare, compared with about one-quarter who trust the Republicans more, a recent AP-NORC poll found. About one-quarter trust neither party, and about 1 in 10 trust both equally, according to the poll.
Even as GOP leaders pledge to discuss ending the subsidies when the government opens, it’s clear that many Republican lawmakers are adamantly opposed to an extension.
“At least among Republicans, there’s a growing sense that just maintaining the status quo is very destructive,” said Brian Blase, the president of Paragon Health Institute and a former health policy advisor to Trump during his first term.
Michael Cannon, director of health policy studies at the libertarian Cato Institute, said he’s working with multiple congressional offices on alternatives that would let the subsidies end. For example, he wants to expand the Affordable Care Act exemption given to U.S. territories to all 50 states and reintroduce a first-term Trump policy that gave Americans access to short-term health insurance plans outside the Affordable Care Act marketplace.
Cannon declined to name the lawmakers he’s working with, but said he hopes they act on his ideas “sooner than later.”
David McIntosh, president of the influential conservative group Club For Growth, told reporters Thursday that the group has “urged the Republicans not to extend those COVID-era subsidies.”
“We have a big spending problem,” McIntosh said.
“I think most people are going to say, OK, I had a great deal during COVID,” he said. “But now it’s back to business as usual, and I should be paying for healthcare.”
Cappelletti and Swenson write for the Associated Press. Swenson reported from New York.

Goktay Koraltan/BBCIn the complex mosaic of the new Syria, the old battle against the group calling itself Islamic State (IS) continues in the Kurdish-controlled north-east. It’s a conflict that has slipped from the headlines – with bigger wars elsewhere.
But Kurdish counter-terrorism officials have told the BBC that IS cells in Syria are regrouping and increasing their attacks.
Walid Abdul-Basit Sheikh Mousa was obsessed with motorbikes and finally managed to buy one in January.
The 21-year-old only had a few weeks to enjoy it. He was killed in February fighting against IS in north-eastern Syria.
Walid was so keen to take on the extremists that he ran away from home, aged 15, to join the Kurdish-led Syrian Democratic Forces (SDF). They brought him back because he was a minor, but accepted him three years later.
Generations of his extended family gathered in the yard of their home in the city of Qamishli to tell us about his short life.
“I see him everywhere,” said his mother, Rojin Mohammed. “He left me with so many memories. He was very caring and affectionate.”
Walid was one of eight children, and the youngest of the boys. He could always get around his mum.
“When he wanted something, he would come and kiss me,” she recalls. “And say ‘can you give me money so I can buy cigarettes?'”
The young fighter was killed during days of battle near a strategic dam – his body found by his cousin who searched the front lines. Through tears, his mother calls for revenge against IS.

Goktay Koraltan/BBC“They broke our hearts,” she says. “We buried so many of our young. May Daesh (IS) be wiped out completely,” she says. “I hope not one of them is left.”
Instead, the Islamic State Group is recruiting and reorganising – according to Kurdish officials, taking advantage of a security vacuum after the ousting of Syria’s long-time dictator Bashar al-Assad last December.
“There’s been a 10-fold increase in their attacks,” says Siyamend Ali, a spokesman for the People’s Protection Units (YPG) – a Kurdish militia, which has been fighting IS for over a decade, and is the backbone of the SDF.

Goktay Koraltan/BBC“They benefited from the chaos and got a lot of weapons from warehouses and depots (of the old regime).”
He says the militants have expanded their areas of operation and methods of attack. They have graduated from hit-and-run operations to attacking checkpoints and planting landmines.
His office walls are lined with photos of YPG members killed by IS.
For the US, the YPG militia is a valued ally in the fight against the extremists. For Turkey, it is a terrorist group.
In the past year, 30 YPG fighters have been killed in operations against IS, according to Mr Ali, and 95 IS militants have been captured.
Kurdish authorities have their hands – and jails – full with suspected IS fighters. Around 8,000 – from 48 countries including the UK, the US, Russia and Australia – have been held for years in a network of prisons in the north east.
Whatever their guilt – or innocence – they have not been tried or convicted.
The largest jail for IS suspects is al-Sina in the city of Al Hasakah – ringed by high walls, and watch towers.
Through a small hatch in a cell door, we get a glimpse of men who once brought terror to around a third of Syria and Iraq.
Detainees in brown uniforms – with shaven heads – sit silent and motionless on thin mattresses, on opposite sides of a cell. They appear thin, weak and vanquished, like the “caliphate” they proclaimed in 2014. Prison officials say these men were with IS until its last stand in the Syrian town of Baghouz in March 2019.

Goktay Koraltan/BBCSome detainees wear disposable masks to prevent the spread of infection. Tuberculosis is their companion in al-Sina, where they are being held indefinitely.
There’s no TV or radio, no internet or phone, and no knowledge that Assad was toppled by the former Islamist militant, Ahmed al-Sharaa. At least that’s what the prison authorities hope.
But IS is rebuilding itself behind bars, according to a prison commander who cannot be identified for security reasons. He says each wing of the prison has an emir, or leader, who issues fatwas – rulings on points of Islamic law.
“The leaders still have influence,” he said. “And give orders and Sharia lessons.”
One of the detainees, Hamza Parvez from London, agreed to speak to us with prison guards listening in.
The former trainee accountant admits becoming an IS fighter in early 2014 at the age of 21. It cost him his citizenship. When challenged about IS atrocities including beheadings, he says a lot of “unfortunate” things happened.
“A lot of stuff happened that I don’t agree with,” he said. “And there was some stuff that I did agree with. I wasn’t in charge. I was a normal soldier.”
He says his life is now at risk. “I’m on my deathbed… in a room full of tuberculosis,” he said. “At any moment I could die.”

Goktay Koraltan/BBCAfter years in jail, Parvez is pleading to be returned to the UK.
“Me and the rest of the British citizens who are here in the prison, we don’t wish any harm,” he said. “We did what we did, yes. We did come. We did join the Islamic State. It’s not something that we can hide.”
I ask how people can accept he is no longer a threat.
“They are going to have to take my word for it,” he says with a laugh.
“It’s something that I can’t convince people about. It’s a huge risk that they will have to take to bring us back. It’s true.”
Britain, like many countries, is in no hurry to do that.
So the Kurds are left holding the fighters and about 34,000 of their family members.
The wives and children are arbitrarily detained in sprawling desolate tented camps that amount to open-air prisons. Human rights groups say this is collective punishment – a war crime.
Roj camp sits on the edge of the Syrian desert – whipped by the wind, and scorched by the sun.
It’s a place Londoner Mehak Aslam is keen to escape. She comes to meet us in the manager’s office – a slight veiled figure, wearing a face mask and walking with a limp. She says she was beaten by Kurdish forces years ago and injured by a fragment of a bullet.
After agreeing to an interview, she speaks at length.

Goktay Koraltan/BBCAslam says she came to Syria with her Bengali husband, Shahan Chaudhary, just “to bring aid”, and claims they made a living by “baking cakes”. He is now in al-Sina prison, and they have both been stripped of their citizenships.
The mother-of-four denies joining IS but admits bringing her children to its territory, where her eldest daughter was killed by an explosion.
“I lost her in Baghouz. It was an RPG [rocket-propelled grenade] or a small bomb. She broke her leg, and she was pierced with shrapnel from her back. She died in my arms,” she says, in a low voice.
She told me her children had developed health problems in the camp, including her youngest, who is eight. But she admits turning down an offer for them to be returned to the UK. She says they didn’t want to go without her.
“Unfortunately, my children have pretty much grown up just in the camp,” she said. “They don’t know a world outside. Two of my children were born in Syria, they have never seen Britain, and going to family who again they don’t know, it would be very difficult. No mother should have to make the choice of being separated from her children.”
But I put it to her that she had made other choices like coming to the caliphate where IS was killing civilians, raping and enslaving Yazidi women, and throwing people from buildings.
“I wasn’t aware of the Yazidi thing at the time,” she said, “or that people were being thrown from buildings. We did not witness any of that. We knew they were very extreme.”
She said she was at risk inside the camp because it is known that she would like to go back to Britain.
“I have already been targeted as an apostate, and that’s in my community. My kids have had rocks thrown at them at school.”
I asked if she would like to see a return of an IS caliphate.
“Sometimes things are distorted,” she said. “I don’t’ believe what we saw was a true representation, Islamically speaking.”
After an hour-long interview, she returned to her tent, with no indication that she would ever leave the camp.
The camp manager, Hekmiya Ibrahim, says there are nine British families in Roj – among them 12 children. And, she adds, 75% of those in the camp still cling to the ideology of IS.
There are worse places than Roj.
The atmosphere is far more tense in al-Hol – a more radicalised camp where about 6,000 foreigners are being held.
We were given an armed escort to enter their section of the camp.
As we walked in – carefully – the sound of banging echoed through the area. Guards said it was a signal that outsiders had arrived and warned us we might be attacked.

Goktay Koraltan/BBCVeiled women – clad head to toe in black – soon gathered. One responded to my questions by running a finger across her neck – as if slitting a throat.
Several small children raised an index finger – a gesture traditionally associated with Muslim prayer but hijacked by IS. We kept our visit short.
The SDF patrol outside the camp and in the surrounding areas.
We joined them – bumping along desert tracks.
“Sleeper cells are everywhere,” said one of the commanders.
In recent months, they have been focused on trying to break boys out of the camp, “trying to free the cubs of the caliphate”, he added. Most attempts are prevented, but not all.
A new generation is being raised – inside the razor wire – inheriting the brutal legacy of the IS.
“We are worried about the children,” said Hekmiya Ibrahim back in Roj camp.
“We feel bad when we see them growing up in this swamp and embracing this ideology.”
Due to their early indoctrination, she believes they will be even more hardline than their fathers.
“They are the seeds for a new version of IS,” she said. “Even more powerful than the previous one.”
Additional reporting by Wietske Burema, Goktay Koraltan and Fahad Fattah
In the context of the US-China competition and the post-COVID-19 global economic recession reshaping the international order, Vietnam has emerged as a stable and dynamic bright spot in Southeast Asia. The concept of “the era of the Vietnamese nation’s rise,” first mentioned by General Secretary of the Communist Party of Vietnam To Lam at the 10th Central Conference of the 13th tenure, reflects the aspiration to enter a new stage of development from “renovation” to “rise.” In fact, over the past year, Vietnam has achieved a growth rate of about 5.5-6%, higher than the average of many other countries in the region. Record FDI inflows, led by technology projects of technology companies Samsung, Apple, and Intel, as the expanding “China+1” trend helps Vietnam become an important link in the global supply chain. Inflation is maintained at 3-4%, and exports and domestic consumption recover strongly, while digital transformation, green development, and the semiconductor industry are considered new growth pillars.
One of the important milestones of the year is the program of reorganizing and merging administrative units, helping to streamline the apparatus and improve the efficiency of state administration. The reduction of nearly 30% of commune-level units and more than 10% of district-level units not only saves budget costs but is also considered a step forward in institutional quality towards a professional administration.
In foreign affairs, Vietnam has shown an increasingly confident role as a middle power expanding its strategic space. The upgrade of relations with the United States to a Comprehensive Strategic Partnership puts Hanoi among the few countries that maintain special relations with both Washington and Beijing. Relations with Japan, South Korea, India, and Australia continue to be strengthened, while cooperation channels and mechanisms for controlling maritime disputes with China are maintained stably.
Multilaterally, Vietnam has shown a more proactive role in ASEAN and actively participated in global initiatives on climate and energy. Its image as a trustworthy, constructive, and balanced country has been reinforced, helping Vietnam to enhance its position in the reshaping regional structure.
However, despite many positive results, Vietnam’s growth still relies heavily on capital flows from the FDI sector, while domestic enterprises lack competitiveness. Labor productivity growth is slow, the efficiency of state-owned enterprises is still low, and institutional reforms have not created breakthroughs. These are barriers that put Vietnam at risk of being stuck in the “middle-income trap.”
On the social front, Vietnam faces challenges of climate change, development disparities, and rapid population aging. The Mekong Delta is being severely impacted by rising sea levels and saltwater intrusion. These pressures require more inclusive and sustainable development policies.
Politically, the anti-corruption campaign continues to strengthen the legitimacy of the regime and national leadership. However, fear of accountability and slow decision-making are hampering the effectiveness of administrative unit mergers. Vietnam still needs extensive institutional reforms to promote transparency, innovation, and accountability to the people as the foundation for modern state governance.
In the coming time, Vietnam’s “rising” prospects in the period 2025-2030 depend on the ability to take advantage of opportunities from the wave of global supply chain shifts. The shift of supply chains away from China, along with trade agreements such as CPTPP, EVFTA, and RCEP, significantly expands the economic space. The young population base and expanding middle class give Vietnam the potential to maintain strong growth momentum in the coming decade.
However, opportunities always come with risks. Over-reliance on FDI can lead to the situation of the “FDI dependency trap.” Therefore, strong investment priority should be given to supporting industries, education, and science and technology as key factors to enhance self-reliance and domestic value.
On the foreign front, Hanoi will need to continue to maintain a delicate balance between the great powers. Deepening ties with the US and the West in technology and energy must go hand in hand with maintaining stable relations with China, its largest trading partner and strategic challenge. The East Sea, maritime security, and strategic supply chains will continue to be a test of Vietnam’s diplomatic mettle of “multilateralization and diversification.”
In conclusion, Vietnam’s “Era of Rising Power” can only be realized if the country turns its current momentum into long-term competitiveness. This requires institutional reform, productivity enhancement, and a shift to an inclusive growth model. If successful, Vietnam can position itself as a dynamic middle-class economy and contribute to the formation of a more balanced regional order in the coming decade.
The past year has shown that Vietnam is at a pivotal moment with great potential but also full of challenges. The “era of rising up” is therefore not just a political slogan but a real test of Vietnam’s leadership, reform, and integration capacity in a turbulent world.
China and the United States are set to resume high-level trade talks in Malaysia from Friday as both sides work to contain a sudden surge in tensions ahead of a crucial leaders’ summit in South Korea. Chinese Vice Premier He Lifeng will meet U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer during his visit to attend an ASEAN summit from October 24 to 27.
The renewed strain in ties comes after Beijing expanded curbs on rare earth exports critical materials used in electronics and defense in retaliation for Washington’s decision to blacklist more Chinese companies from purchasing U.S. technology. The move has reignited fears of another trade war just as the two powers had shown tentative signs of improvement in recent months.
These talks carry significant global implications. The world’s two largest economies are deeply interlinked, and renewed hostilities threaten to disrupt global supply chains, technological cooperation, and regional stability. Both Washington and Beijing are under pressure to prevent economic confrontation from spilling into diplomatic isolation ahead of the scheduled Trump-Xi summit.
The flare-up also underscores the fragility of U.S.-China relations. Despite earlier progress including a successful TikTok-related deal at a Madrid summit and a constructive Trump-Xi call in September the latest export and sanctions measures have quickly derailed the momentum toward reconciliation.
The main negotiators, He Lifeng, Scott Bessent, and Jamieson Greer, are expected to focus on two issues: China’s rare earth export restrictions and U.S. curbs on technology access. These topics strike at the heart of both countries’ strategic priorities industrial self-sufficiency for China and tech security for the U.S.
Southeast Asian nations, particularly Malaysia as the host, are watching closely. They stand to benefit economically if tensions ease but risk becoming collateral in any escalation, as both superpowers compete for influence in the region. Meanwhile, global markets are bracing for volatility, with tech and manufacturing sectors especially vulnerable to disruptions.
The Malaysia talks are being seen as a last attempt to restore calm before the Trump-Xi summit next week in South Korea. Both sides are expected to seek at least a symbolic agreement to keep communication channels open, though a comprehensive deal is unlikely given the current mistrust.
If the talks fail, trade and diplomatic friction could deepen, potentially leading to expanded sanctions or retaliatory measures that reverberate across Asia. For now, the focus is on whether Washington and Beijing can manage their rivalry without derailing global economic stability.
With information from Reuters.
Peru’s interim president Jose Jeri has declared a 30-day state of emergency in the capital Lima and nearby Callao, saying the decision was to tackle surging crime. Anti-government protests last week left one person dead and over 100 injured.
Published On 22 Oct 202522 Oct 2025
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Beyond the Cuban diaspora, the genre known as reparto is overwhelmingly unknown. But on the streets of Havana and Hialeah, Miami, reparto is inescapable, pulsing from balconies and portable speakers on the beach.
Born in Cuba’s working-class neighborhoods — known colloquially as repartos — this hyperkinetic fusion of reggaetón, timba and Afro-Cuban rhythms has become the island’s score. In the mid-2000s, artists like Chocolate MC and Elvis Manuel built the genre’s sound on distorted synth stabs, shouted call-and-response hooks, and the distinct Cuban clave beat that makes your body move before your brain can even catch up.
It’s also become a platform for youth navigating scarcity, surveillance and dreams of escaping poverty. The lyrics, characteristically and unapologetically obscene, reflect the realities of life in marginalized communities. But alongside its rhythmic bravado, reparto’s explicit language often veers into the dehumanizing and misogynistic.
The music centers on women, but more often than not, as objects: the perra to conquer, the diabla to tame, the culo to catalog in explicit detail. And it’s no surprise: The genre’s blunt portrayal of women mirrors the machismo deeply embedded in everyday Cuban life.
It’s a refrain you’re bound to hear in any and every nightclub: “¿Donde están las mujeres?” But the next time 10 reparteros link up for a track, they probably won’t call a woman. Within a genre that revolves so heavily around their bodies, women’s voices still remain rare.
So, ¿dónde están las mujeres? Or, where are the women making reparto?
“Chocolate is the king, but who is the queen?” says Seidy Carrera, known artistically as Seidy La Niña. “There’s a space that needs to be filled with women. There’s no f—ing women!”
At the onset of reparto, early reparteras like Melissa and Claudia slipped brief female cameos into club anthems. More than a decade later, due to Cuba’s only recent, and still extremely limited, internet access, these artists and their collaborations have a seemingly untraceable digital footprint. Still, most playlists orbit male voices, and collaborations rarely invite women to the booth: “When reparteros come together on a track, they never call a woman,” she says.
Carrera, 32, was born in the reparto El Cotorro and raised in Miami since she was 6. The self-proclaimed queen of reparto, the paradox defines her career: She fights for space in a scene whose appeal lies in her raw neighborhood realism, but detractors question her authenticity as a gringa, or as they would call her, yuma.
“I feel resistance every day, every single day,” she says. In response, she reclaims the discriminatory language used against her; onstage, she chants “más perra que bonita,” flipping the curse-word from insult to empowerment.
“It’s empowering to say, I’m more perra than pretty. To me, being a perra is being a woman who’s exclusive, who makes her own money. In my case, … nobody opened the door for me, nobody gave me a hand.”
For Havana-based singer-composer Melanie Santiler, 24, the double standard hits her before she can even sing her first note: “I feel that I have to do twice as well. I have to put in double the thought, double the effort, double the talent, always having something more to say,” she says.
“It’s exhausting. It’s exhausting being a woman, having to get up and tell yourself, damn, I have to look pretty and put together. I spent my whole life in school with an onion bun because I didn’t want to do my hair,” Santiler says and laughs, messy bun flopping around her face.
Reaching almost 5 million YouTube views on her 2025 viral collab, “Todo se Supera” with Velito el Bufón, she’s broken into the reparto space as one of the genre’s most distinctive voices. Beside this rise, she’s faced a newfound pressure to dress a way she normally wouldn’t, a beauty standard her masculine counterparts don’t face.
Aliaisys Alvarez Hernández — better known as Ozunaje — says she doesn’t face the same criticism in the urban Cuban music scene, likely due to her sexuality and more masculine appearance. “Reparto is a genre for men, that’s how I see it,” she says. “I dress like a man, I practically live my life like a man, so what I write resembles what men are already saying. That also gave me an impulse, where I feel like more feminine artists, they have to work harder.”
A former rhythmic gymnast from La Habana, Hernández, 23, stumbled into music when friends recorded her singing a demo of “Cosas del Amor” in her living room. Someone uploaded the video, it went viral, and suddenly, she had a career. Since that start, Hernández refuses to only be compared with other reparteras.
Her goal has always been to be measured against men, since “that’s who people actually listen to.” Dressing in traditionally masculine clothing, paired with a deep, raspy delivery, helps her lyrics resonate with locals without the extra hurdle of hyper-sexualized expectations.
Hernández’s androgynous wardrobe and open queerness bring another layer of potential discrimination, but despite the rampant homophobia persistent in present-day Cuba, she doesn’t feel much resistance. “The worst word they throw at me is tortillera, but it doesn’t affect me,” she says, adding, “People like my style, they like that I dress like a guy. Everybody tells me, you have tremendo flow, I love your aguaje, so I haven’t faced any bullying. Never.”
Misogynistic currents in reparto mirror those in early reggaetón, reflecting the average street machismo. The genre’s marginal roots complicate blanket condemnations, since the same raunchy lyrics often encode critiques of class exclusion. Still, reaching bigger stages will require editing the most gratuitous slurs, if only to broaden the music’s export potential. At least, Ozunaje thinks so.
“Reparto came from people who were poor, who had nothing, who were desperate to get out. Nobody imagined it would get this big. Now it’s reaching the whole world, so the vocabulary has to evolve,” she says.
Santiler echoes this critique. “It’s become really repetitive. I think right now, everyone is talking about the same thing. It’s been really easy. Facilista,” she says, using the Spanish term for taking the easy way out. Santiler loves reparto’s swing, but calls most of it objectifying, pointing to Bad Bunny’s “Andrea” and “Neverita,” along with C. Tangana’s “El Madrileño,” as proof that urban music can expand beyond bedroom conquests.
“The street already says these things, and reparto just writes it. It’s an image of what’s happening. But I grew up with other types of music and other types of references, so I’d like to expand beyond that, to make something fresh.”
Santiler adds that the basis of reparto, both in her gratitude and her criticism, comes from pride.
“I love Cuba, I love my country. The current generation of Cuba doesn’t reject their identity — they’re doing the opposite. They want to create a new culture, to create a new movement, and they want the world to know Cuba again,” she says.
Lindsey Horvath knew all the words to “Pink Pony Club.”
It was an overcast Sunday in June, the WeHo Pride parade was in full swing and the hit song about an iconic West Hollywood gay bar was blasting at full volume.
Sure, the county supervisor’s sequined, rainbow muumuu was giving her an angry rash. But that did little to dampen her spirits as she danced atop her pink pony-themed Pride float, swaying and mouthing the lyrics.
Five hours later, Horvath had traded her sequins and rainbow sneakers for a simple black dress and heels.
Now, she sat on a wooden pew for evening Mass at her 121-year-old Catholic parish in Hollywood.
But she still knew all the words, albeit this time to a traditional hymn about the holiness of the Lord. And then she knelt down in quiet prayer.
Horvath, 43, defies easy characterization.
She is the first millennial member of the county Board of Supervisors, a governing body that wields tremendous power despite remaining unknown to most Angelenos.
When elected in November 2022, she went from representing roughly 35,000 people as a West Hollywood City Council member to having more than 2 million constituents across a sweeping, 431-square-mile district that sprawls from the Ventura County line down to Santa Monica, east to Hollywood and up through much of the San Fernando Valley.
While attending the University of Notre Dame, Horvath held a leadership position with the school’s College Republicans chapter, helped create Notre Dame’s first gay-straight alliance and drew national opposition for staging “The Vagina Monologues” at the Catholic university — all while working three jobs to pay off her student loans. (She’s still paying them off.)
During her 2022 campaign for supervisor, she had the backing of some of the most progressive politicians in the city, including then-Councilmember-elect Eunisses Hernandez, as well as then-Councilmember Joe Buscaino, one of the more conservative members of the body.
As a member of the West Hollywood City Council, she helped approve what was then the highest minimum wage in the country, yet her county reelection bid was just endorsed by one of the region’s most prominent pro-business groups.
In the three years since she was elected to the county Board of Supervisors, she has effectively rewritten the structure of county government and drastically changed its approach to homelessness response.
Horvath’s Midwestern mien, unflagging politeness and warm smile belie her fierce ambition.
She has long been seen as someone who does not — to crib a phrase occasionally used about her behind closed doors — “wait her turn.” And that impatience has worked out OK for her so far.
All of which raises the question, will Horvath challenge Karen Bass in the June 2026 Los Angeles mayoral race?
Horvath speaks as supporters rally in September for her motion to pass an emergency rent relief program.
(Al Seib / For The Times)
Her name has been bandied as a potential Los Angeles mayoral candidate since early in the year, when her public profile exploded in the wake of the devastating Palisades fire and tensions between her and Bass first became public.
She has done little to tamp the speculation since, though some posit she is merely expanding her profile ahead of a run for county executive in 2028.
Still, the political rumor mill went into overdrive in early summer, as word trickled out that the erstwhile mayor of West Hollywood had moved into a two-bedroom apartment at the edge of Hollywood — firmly in the city of Los Angeles.
When asked about her mayoral intentions late last month, Horvath demurred, but made clear the door was open.
“I have no plans to run for mayor,” she said, sitting under the sun in Gloria Molina Grand Park, just outside her office in the Kenneth Hahn Hall of Administration, within direct view of City Hall.
“I continue to be asked by people I deeply respect, so I continue to listen to them and consider their requests, and I’m taking that seriously,” she continued. “But I’m focused on the work of the county.”
Horvath, left, embraces Mayor Karen Bass in August at an event in Pacific Palisades.
(Myung J. Chun / Los Angeles Times)
Horvath declined to share specifics about who was pushing her to run, though she said they were “significant stakeholders” that didn’t hail from any single community.
On Monday, former schools chief Austin Beutner kicked off his campaign for mayor, becoming the first serious candidate to challenge Bass. Political watchers have speculated that Beutner’s entrée could potentially open the floodgates by offering a permission structure for others to challenge the mayor of the nation’s second-largest city.
In the immediate wake of the January firestorm, Bass’ political future appeared to be in real jeopardy, but she has since regained some of her footing and shored up support with powerful interests, such as local labor groups.
***
Horvath was 26 and had lived in West Hollywood for all of 18 months when Sal Guarriello, a 90-year-old West Hollywood council member, suddenly died.
It was spring 2009. The advertising executive and Ohio transplant was active in Democratic and feminist circles, co-founding the Hollywood chapter of the National Organization for Women and leading the West Hollywood Women’s Advisory Board. (Raised by conservatives, Horvath started college as a Republican but soon evolved into a staunch Democrat.)
Former Los Angeles Mayor Eric Garcetti — who was then president of the Los Angeles City Council — had become a friend and mentor to Horvath through her activism. He and others urged her to throw her hat into the ring for the open seat.
More than 30 people applied, but Horvath was ultimately chosen by the remaining members of the council to join them — an outcome that was stunning, even to her.
After two years in her appointed role, she lost an election bid in 2011 but continued to make a name for herself in the tight-knit, clubby world of progressive West Hollywood politics.
Undeterred, she ran again for West Hollywood City Council in 2015 and won.
Horvath is sworn in as the new county supervisor for District 3 in December 2022.
(Jason Armond / Los Angeles Times)
Horvath remained on the council for the next seven years and twice served as mayor before turning her ambitions toward the county Hall of Administration.
She was seen as an underdog in her supervisor’s race, running against former state Sen. Bob Hertzberg, a political veteran who had a 3-to-1 fundraising advantage and first took elected office as she was entering high school.
Hertzberg had far more name recognition, but Horvath ultimately defeated him with a coalition that included local Democratic clubs and some of labor.
***
On the Board of Supervisors, Horvath has been unafraid to take chances and ruffle feathers.
Less than two years into her first term, Horvath was leading the charge to fundamentally reinvent the structure of county government, which hadn’t been meaningfully changed in more than a century.
Horvath’s bold plan to increase the size of the board from five to nine supervisors and create a new elected county executive position was approved by voters last November.
Voters will choose the county’s first elected executive in 2028. Opponents (and even some allies) have long griped that Horvath has her sights set on the very position she helped create, which will undoubtedly be one of the most powerful elected offices in the state.
“There are people who are never going to be convinced that I created this measure without seeing a seat for myself in it,” she says. “I’m not interested in convincing people of that. I’m interested in doing the work.”
As she campaigned for Measure G, critics also said Horvath and her allies were moving too fast, with too much left to figure out after the vote, including the price tag.
“Not everybody always loves you when you do things that upset the status quo. But I think history judges people not by ‘Did everybody love them in a given moment?’ … It’s were they smart and were they brave,” Garcetti said of Horvath.
“And she’s both,” he added.
Still, some of those criticisms came to bear in July, when it was revealed that county officials committed a near-unthinkable administrative screwup. When voters approved the sprawling overhaul to county government in November, the move unintentionally repealed Measure J, the county’s landmark criminal justice reform passed by voters in 2020.
Horvath said she didn’t think she and other proponents moved too fast, arguing that if they hadn’t seized the moment, they would have missed the opportunity “to bring about the change that has been stuck for far too long.”
Horvath argues that the fact that Measure J could have been unwritten in the first place is why Measure G was so needed.
***
Horvath was, briefly, everywhere during the fires.
While Mayor Bass receded into the background, Horvath was a constant presence at media briefings and on the news.
Her face was so omnipresent that a man she’d recently gone on a date with — someone who didn’t fully understand what she did for a living — spotted her on television with some confusion.
That was the last she heard from him, she said. (Dating as a public official is “very weird,” and not just because the one time she tried to use Tinder while abroad, she was seemingly banned for impersonating herself.)
She also tussled with Bass behind closed doors in late January, as revealed in text messages obtained by The Times that highlighted an increasingly fractious relationship.
The two women were at odds even before flames laid waste to a wide swath of coastal paradise.
Last November, Horvath went public with a proposal to shrink the duties of the Los Angeles Homeless Services Authority, which is overseen by city and county political appointees.
Horvath called for hundreds of millions of dollars to be shifted out of the agency and into a new county department focused on homelessness — a proposal to which Bass strenuously objected.
Horvath ultimately pushed her strategy forward in April, but not without warnings from Bass about creating a “massive disruption” in the region’s fight against homelessness.
Horvath attends a news conference celebrating the Army Corps of Engineers clearing debris from the final house in the Palisades in late August.
(Jason Armond / Los Angeles Times)
Horvath’s relationships in the Palisades have also not been without some tension.
The supervisor recently pledged $10 million of her county discretionary funds to help rebuild the Palisades-Malibu YMCA, but some in the community have felt betrayed by her, according to Pacific Palisades Residents Assn. President Jessica Rogers.
“We don’t believe that she’s properly engaging her community,” Rogers said, citing the independent commission that Horvath convened in the wake of the fires. “She put a lot of time and energy into creating this report. The intentions might have been good, but she didn’t include proper community participation.”
Rogers was particularly bothered by Horvath’s proposal for a countywide rebuilding authority, since Rogers felt like Horvath hadn’t earned their trust. The rebuilding authority, which was supported by the mayor of Malibu, did not come to fruition.
“There’s a perception that [Horvath] is too aggressive,” said another community leader, who asked to speak anonymously because they hope to get things done without alienating anybody. “But there’s more of a mix to how people feel about her than you can see.”
The loudest voices, particularly in community WhatsApp groups, NextDoor and other forums, tend to be the most vitriolic, the community leader said, positing that some of the gripes about Horvath had more to do with her progressive politics than her leadership.
“People are suffering, and I will always show up for my constituents — especially when the conversations are difficult. The Blue Ribbon Commission provided independent, expert guidance on a sustainable rebuild. Its recommendations were meant to inform, not replace, community engagement,” Horvath said.
***
The chances of Horvath entering the mayoral race still remain far slimmer than the alternative, particularly because she is up for reelection in 2026 — meaning she would have to sacrifice her safe board seat for an uphill battle challenging an incumbent who still has deep wells of support in the city.
Former Los Angeles City Councilmember Mike Bonin, who long represented the Westside and now directs the Pat Brown Institute for Public Affairs at Cal State LA, said he wondered why someone would want the job of mayor while in the comparatively plush position of county supervisor.
Supervisors have more power and suffer far less scrutiny, he argued. Still, there were benefits to remaining in the mix.
“Being mentioned as a potential candidate is one of the greatest places a political figure can be. Because when you’re in the mentioning stage, it’s all about your strengths, your assets, your positive attributes,” Bonin said with a laugh. “Once you declare, it’s the reverse.”
Times staff writers David Zahniser and Rebecca Ellis contributed to this report.
Banks are joining private equity funds in issuing private credit to corporate borrowers—despite regulators’ concerns about unseen risks.
As private equity becomes an increasingly dominant force in backing corporate transactions, banks are taking an “If you can’t beat ’em, join’em” approach to the business of debt-capital financing.
Standing to benefit are corporate borrowers that otherwise cannot get traditional bank financing. But the intertwining of largely unregulated private credit and regulated bank lending—with the attendant risk of government bailouts of providers of both if their loans go bad—raises questions about threats to the financial system.
What once would have been considered an unlikely partnership is nevertheless liable to deepen, since the forces behind it have been building for some time.
The global industry of private credit, supplied mainly through closed-end credit funds sponsored by the same PE firms that back equity vehicles, has grown dramatically since the 2008 financial crisis. It boasts $2.8 trillion in assets under management (AUM) at last count, up from $200 billion in the early 2000s, according to the Bank for International Settlements (BIS). Correspondingly, bank lending fell from 44% of all US corporate borrowing in 2020 to 35% in 2023, an analysis by global consultancy Deloitte of Federal Reserve data found.
“Some private credit funds may have a degree of liquidity mismatch between their investments and the redemption terms of their investors.”
Lee Foulger, Bank of England
Use of private credit is expanding dramatically elsewhere as well. The BIS estimates that total outstanding private credit loan volumes have increased globally from around $100 billion in 2010 to over $1.2 trillion today, with more than 87% of the total originating in the US. Europe, excluding the UK, has accounted for about 6% of the total in recent years, and the UK about 3% to 4%, with Canada making up most of the rest. Assets in credit funds under management in Asia-Pacific total about $92.9 billion, up from $15.4 billion in 2014, according to research firm Preqin.
The appeal of private credit to corporate borrowers is clear: Many middle-market businesses, often backed by private equity sponsors, prefer private credit for its speed, flexibility, confidentiality, and reduced disclosure obligations compared to public bond markets available through broadly syndicated loans (BSLs). Those advantages are starting to attract larger, more creditworthy companies as well.
Banks, meanwhile, increasingly are lending to private credit funds for purposes of financing corporate borrowers, often those in the sponsors’ equity portfolios. Such lending often takes the form of so-called direct lending: commercial loans used by corporates for working capital or growth financing, that the industry contends traditional banks would not underwrite.
Bank lending to the private credit industry was estimated by the Federal Reserve in May 2023 at $200 billion, and the Fed acknowledged its estimate may have understated the actual amount. Fitch Ratings found that nine of the 10 banks with the largest loan balances to non-bank financial intermediaries of all kinds had $158 billion in loans to private credit funds or related vehicles at the end of last year. And the amount of outstanding loans extended by banks to private credit funds grew by 23% in the quarter ended June 30, compared with the previous quarter, versus only 1.4% for bank lending overall, Fitch reports.
The increasing importance of bank lending to private credit is well illustrated by Blackstone Private Credit Fund, one of the largest private credit funds in the world with over $50 billion in assets. Fully 98% of the $23.5 billion in secured credit commitment facilities arranged by its subsidiaries as of December 2022 were provided by 13 banks, the remaining amount from an insurance company. The outstanding amounts drawn on these facilities totaled some $14 billion, accounting for about 50% of the fund’s total debt liabilities.
Of course, banks have long been involved in financing PE buyouts, such as Sycamore Partners buyout of Walgreens Boots Alliance. Two other PE firms, HPS Investment Partners and Ares Management, together provided $4.5 billion in direct lending for the deal while banks including Citigroup, Goldman Sachs, and JPMorgan Chase put together financing proposals to work jointly with private credit, providing some access to the BSL market. Overall, the deal Sycamore completed in August is valued at $23.7 billion, with over $10 billion in committed financing coming from private credit funds and banks.
Increasingly, cooperation between banks and PE firms is taking the shape of direct lending to borrowers. PNC Financial and TCW Group, for instance, have partnered to create a lending platform for middle-market companies. And Citizens Financial Group has built out a unit focused on lending to PE funds.
Competition from banks is also growing. Standard Chartered and Goldman are readying their own units devoted to extending private credit while Morgan Stanley is launching funds to exploit private credit opportunities. The loans may not stay on banks’ balance sheets for long, as risk is transferred once investors’ capital is deployed. But just as the securitization market froze up in the inflationary post-Covid environment, so too may risk transfer when liquidity abruptly disappears.
Indeed, regulators are concerned that banks’ involvement in private credit, whether through cooperation or competition with PE, poses hidden risks to the financial system. Researchers from the Bank of England (BoE), the BIS, the European Central Bank (ECB), and the Federal Reserve, among others, have issued reports recently warning of the systemic financial risk these relationships may pose. Without greater visibility, the BoE, for one, has instructed banks to bolster their risk management in this arena.
“Some private credit funds may have a degree of liquidity mismatch between their investments and the redemption terms of their investors,” Lee Foulger, director of Financial Stability, Strategy, and Risk at the BoE, warned in a January 2024 speech to a middle-market finance conference sponsored by Deal Catalyst and the Association for Financial Markets in Europe.
The industry counters such concerns by pointing out that credit funds are less likely to have loan defaults than in the BSL market as sponsors typically monitor borrowers’ performance more closely, use less leverage, adopt more conservative loan-to-value structures, and offer more flexible terms than banks, while locking up investors for long periods. In a recent report, “Understanding Private Credit,” Ares Management contends that its borrowers are more creditworthy than those in the public markets and are supported by more equity and that while the private credit market is still small in comparison, it is on its way to becoming even less leveraged while any funding mismatch will diminish as it grows.
Yet concerns remain, especially given the prospect of a challenging economic environment ahead.
Fitch, for instance, notes that the industry has yet to weather higher interest rates. As the ratings firm put it in a June report, “Sponsors and lenders had largely assumed a low base rate environment, as signaled by the Fed amid expectations of transitory inflation, when determining the optimal sizes of capital structures against revenue, EBITDA, and free cash-flow projections.”
As for liquidity risk, Fitch analyst Julie Solar notes that a growing number of credit funds are open-ended and subject to runs under difficult circumstances. Although she concedes that the number of such funds is still small, at least in the US, and many feature limits on redemptions, she adds that the issue bears watching. If many more open-end funds are created and rates rise significantly, she warns, “that is when you can start to have liquidity issues.”
In the eurozone, 42% of funds are open-ended, according to the ECB, although most of their investors are institutional and tend to have longer time horizons than retail investors.
Solar also raises concern about what she called “leverage upon leverage,” noting that business development companies—publicly traded vehicles that account for about half of private credit—as well as PE firms themselves are often significantly indebted to banks. Indeed, bank lending for buyouts may be an even greater risk, simply because it is so much larger than direct lending.
Banks’ involvement in credit funds is an added concern for regulators. A May 2024 financial stability report from the ECB pointed out, “Private markets still need to prove their resilience in an environment of higher interest rates as they have grown to a significant size only in the past decade.”
The industry counters that interest rates on many if not most of its loans float, eliminating the need for refinancing in a rising rate environment. But that’s likely to do nothing for the borrowers themselves.
“The floating-rate debt structure of private credit agreements makes them vulnerable to challenges around debt servicing and refinancing in a higher rate environment,” the BoE’s Foulger noted at the January 2024 conference.
A Federal Reserve Bank of Boston report in May acknowledged that banks’ losses could be mitigated in response to adverse conditions as most private credit debt is secured and among the funds’ most senior liabilities. Yet, the authors cautioned that “substantial losses could also occur in a less adverse scenario if the default correlation among the loans in [private credit] portfolios turned out to be higher than anticipated—that is, if a larger-than-expected number of [private credit] borrowers defaulted at the same time. Such tail risk may be underappreciated.”
SACRAMENTO — Until the FBI raided his Capitol office last August, Assemblyman Pat Nolan of Glendale was a blazing young star of Republican politics.
Leader of the Assembly GOP, with a reputation for relentless pursuit of his goals and boundless ambition, he hoped to pick up enough seats over the next few elections to win a majority and become Speaker. He talked about running for governor one day.
None of it seemed beyond his reach.
Now, at age 38, stripped of his leadership post, Nolan is struggling for political survival.
Last June 29, Nolan and an aide were videotaped at a meeting in a hotel room where FBI agents posing as businessmen handed him two $5,000 checks for his campaign committees, sources familiar with the three-year FBI probe have told The Times.
Nolan failed to report one of those checks until after the Capitol raid, a full month after it should have been disclosed; just a mistake, according to those close to him.
The lawmaker has not been accused of a crime, but federal sources say he is a target of the investigation.
Nolan’s attorney has told him not to talk to the press beyond a brief statement, issued the day after the raid, saying that “when the investigation is completed, my office will be completely cleared.”
Friends and enemies alike describe Nolan as a driven soul, someone who has devoted himself unflaggingly to conservative politics since adolescence and who, once he attained power, could be ruthless in his exercise of it.
A review of public records as well as his daily calendar shows his preoccupation with raising money for political campaigns. During one hard-charging stretch last August, he was scheduled to attend five fund-raising events in a day as he hustled to keep pace with the money-raising of Assembly Democrats.
Spoils of High Office
The same records illustrate that with power came the spoils of high office. Special-interest groups paid him for speeches, sent him gifts and provided him with trips.
In his 10 years in the Legislature, the documents show, he has collected more than $60,000 in honorariums–about $55,000 of it in the four years that he was Republican leader.
Other legislators have collected far larger amounts for speaking, but some of the specifics about Nolan’s honorariums raise questions.
Nolan was one of several legislative leaders, for example, to receive sizable speaking fees–in his case, $5,000–from the California Retailers Assn. during the 1987-88 legislative session. Last year, the lobbying group won approval of its bill to eliminate an 18% cap on interest rates that department stores may charge customers, a limit in place since the early 1960s.
Arranged Meeting
One payment of $2,500 in 1988 came from Glaxo Inc., which was lobbying to have its anti-ulcer drug Zantac added to the list of medications covered by Medi-Cal. After a bill to add the drug to the list died in the Legislature, Nolan arranged a meeting between Glaxo representatives and top Administration health officials. The money, payment for a speech that Nolan never delivered, was deposited into his personal account by his secretary. But the payment was returned in late September, three months after it was received and one month after the FBI raid.
Other special-interest groups–the Seafood Institute and Ralphs Grocery Co.–in 1986 provided a total of $6,612 in food and beverages at Nolan’s wedding reception. And businessman Del Doye, whose firm, TSD Systems of Bakersfield, was trying to win a toxic disposal permit from the state, provided the newlyweds with a honeymoon condominium in Hawaii. (Doye has left the company and the permit still is pending.)
As leader of the Assembly GOP, Nolan met regularly with Gov. George Deukmejian and his top aides, according to his calendar, which was obtained by The Times from a Republican source.
Wife Hired
Through his contacts, Nolan learned that there was an unadvertised Administration job available that might be suitable for his wife, Gail, a marketing specialist. In February, she was appointed by the governor to the $3,323-a-month public relations post at the Department of Food and Agriculture. Part of her job was to win a spot for the Dancing Raisins on the “Today Show” on National Agriculture Day, department officials said. The raisins did not make the show and Gail Nolan left her job in June to have a baby.
While a legislator, Nolan has continued to receive a $6,000-a-year-retainer from Kinkle, Rodiger & Spriggs, a Southern California law firm he joined after law school. The firm specializes in defending individuals and insurance companies in personal injury cases. Nolan’s duties include meeting with attorneys and clients to discuss legislative procedures, according to managing partner John V. Hager.
Nolan’s friends defend him as a committed idealist, an honest man who has not profited personally from his office.
“There is not a more honest guy in the whole world, with more integrity and just good character than Pat Nolan,” said Assemblyman Dennis Brown (R-Los Alamitos), a close friend of Nolan’s for 20 years.
‘Decent, Caring Person’
“Pat is really a very decent, caring person, who has very strong political beliefs and has spent 10 years trying to advance them,” said his former chief of staff, Bill Saracino, who like Brown has known Nolan since their student days at USC. “He’s not one of those legislators who have enriched themselves.”
Saracino, now a deputy director at the state Department of Commerce, also defended Nolan’s acceptance of speaking fees from various interest groups: “No. 1, it’s legal. And look who Pat’s getting honorariums from–people who agree with him on the natural anyway.”
One of his chief Republican opponents, Assemblyman Stan Statham of Oak Run, in a bitter speech before the Assembly, accused Nolan of being a liar–harsh language for one legislator to use against another on a house floor, and especially so in this case because the attack came during normally festive opening-day ceremonies with Nolan’s family in attendance.
Personal Dealings Told
“I can’t be charitable because I’ve had too many personal dealings with him (Nolan),” Statham said in an interview. Nolan broke a promise not to become involved in 1986 Republican primaries and opposed a candidate supported by Statham, the lawmaker said.
“Nothing in politics is any more important than a person’s word,” Statham said.
He also pointed out that Nolan is a central figure in an investigation of forged letters sent out on White House stationery under a phony signature of then-President Ronald Reagan in support of Republican Assembly candidates in 1986.
Although Sacramento County Dist. Atty. John Dougherty decided not to press criminal charges in the case last fall, he asserted that both Nolan and Assemblyman John R. Lewis (R-Orange) “asked staff members to give false explanations to White House staff” on how the forgery took place.
State Atty. Gen. John K. Van de Kamp, who conducted the initial investigation and referred it to Dougherty, is now deciding whether to drop the matter or move ahead on his own.
Several Maladies
Nolan is a large man, hefty but not obese, someone whose size can be intimidating in a head-to-head confrontation.
Recently his usually florid skin has had an orange cast from medication he takes for a chronic yeast infection, one of several maladies that he has complained of over the years, according to those close to him.
“He’s a bit of a hypochondriac,” observed Republican Assemblyman Gil Ferguson of Newport Beach, who acknowledges that Nolan does have some real health problems.
Ferguson, a Nolan ally, was one of several people interviewed who commented on Nolan’s hot temperament–something Ferguson attributed to hypoglycemia, or low blood sugar. “He’d explode because of a lack of sugar content,” Ferguson said.
‘Jekyll and Hyde’
Others describe him as having a “Jekyll and Hyde” personality–a charming teller of jokes and stories one minute, an ogre growling out his displeasure the next.
As a young man, his storytelling got him booted from a group of conservative students attending free enterprise seminars sponsored by Coast Federal Savings, when a woman in the group complained that he was telling dirty jokes.
“People thought conservatives were humorless, stuffy and boring,” said another member of the group, Bilenda Harris. “Pat is a wonderful teller of jokes.”
He also sprinkles his conversations with quotations–from Shakespeare and Marcus Aurelius, Sophocles and Machiavelli–a practice that dates back to his days at Notre Dame High School in Sherman Oaks.
“He’s like the renaissance man, a very well-read, very rounded individual,” Harris said.
But Harris, who also was a classmate of Nolan’s at USC and later an aide in his Glendale office, knows what it’s like to fall into Nolan’s disfavor. In 1983, Nolan fired her only six weeks after she moved with her son to Sacramento to take a new job in the lawmaker’s Capitol office.
Nolan is the boy’s godfather.
Others say that in 1987 Nolan fired another USC classmate, then-chief of staff Saracino, who had been the best man at his wedding.
“Pat just cut his head off,” Assemblyman Ferguson said.
Saracino denied that he was fired, saying that he and Nolan had agreed to go their separate ways because of “differences of style.”
But he agreed that Nolan was a tough boss. “ ‘Jekyll and Hyde’ is a bit of hyperbole,” Saracino said. “But he is a very demanding person, as you have to be if you want to get anything done.”
“Pat gets torn in this stuff,” Harris said. “The need to get elected overrides the friendship that used to be there.”
Focus on Goals
Ruthless is an adjective that Ferguson ascribes to Nolan.
“Few people have the ability or the willingness to focus on their objectives at the cost of almost everything else–friends, family life,” Ferguson said.
The sixth of nine children, Nolan showed a precocious interest in politics. He got his first taste in 1960 when he hung brochures on doorknobs for Richard M. Nixon’s unsuccessful first campaign for President.
In 1964, he walked precincts for Barry Goldwater.
Two years later, at the age of 16, he threw himself into Ronald Reagan’s first campaign for governor.
Nolan’s large family was solidly middle class. His father was an accountant, his mother a homemaker with wide interests, a constant reader. Nolan’s official biographies point out that he is a fifth-generation Californian, a direct descendant of the ranching family that founded the town of Agoura.
Nine Dancing Nolans
As children, he and his brothers and sisters celebrated their Irish roots as the Nine Dancing Nolans, a group that performed at festivals and at Disneyland.
The clan, dressed in kilts, has continued to dance together for Nolan’s political events–a St. Patrick’s Day celebration in Glendale and a campaign fund-raiser in Sacramento.
Nolan’s passion for politics came to dominate his life.
While a student at USC, he helped found the campus chapter of Young Americans for Freedom, a right-wing youth group that spawned a generation of conservative politicians. Among the members of the USC chapter were Assemblymen Dennis Brown and John Lewis, who remain two of Nolan’s closest friends and political confidants.
With the campus bitterly divided over the Vietnam War, the group staged a mock treason trial of Jane Fonda and hanged her in effigy. (A few years ago, however, Nolan found himself working hand in hand with Fonda’s husband, Democratic Assemblyman Tom Hayden of Santa Monica, on a bill to study the effects of the chemical defoliant Agent Orange on Vietnam veterans. The measure was vetoed by Deukmejian.)
Variety of Jobs
To make ends meet while at USC, Nolan worked at a variety of part-time jobs, waiting tables at the faculty center, serving in dormitory food lines and passing out towels in the gym. Later, he found a job with Los Angeles City Councilman John Ferraro.
He managed to find the time to learn to ride horseback, became a riding instructor and rode as Tommy Trojan in the 1974 Rose Parade.
An average student in college, Nolan scored well enough on qualifying tests to enter USC Law School. Graduating in 1975, he passed the Bar exam on his second try and started practicing law.
In 1978, he upset more seasoned politicians in his first bid for an Assembly seat by conducting an old-fashioned, door-to-door campaign that stressed his support for Proposition 13, California’s trend-setting property tax-cutting initiative.
At first, he was an outsider in his own caucus–so conservative that he and his closest allies were dubbed “the cavemen.”
Succeeded on Second Try
But by 1983, he came within one vote of being elected Republican leader. He succeeded on his second try a year later with the backing of two new GOP assemblymen he had recruited to run for office–Ferguson and Wayne Grisham of Norwalk.
Nolan’s goal was to win enough seats for Republicans to gain a 41-vote majority in the Assembly in time for the GOP to play a central role in drawing up new legislative and congressional districts after the 1990 Census.
To get the legislative staff he wanted, the new Republican leader worked out a compromise with Democratic Assembly Speaker Willie Brown–”the devil incarnate” to many of the Republicans, according to Ferguson.
In return for staff appointments and the ability to decide which Republicans would serve on which committees, Nolan agreed not to challenge Brown’s position as Speaker as long as the Democrats held a majority.
Solid Voting Bloc
With control over his own members, Nolan was able to whip a divided Republican Assembly membership into a solid voting bloc. The GOP members could stop any measure requiring a two-thirds vote, including the annual state budget and attempts to override a Deukmejian veto.
To plot Republican strategy, Nolan drew on a tight group of colleagues, which called itself “the board” and met secretly every Monday night at the offices of Heron, Burchette, Ruckert & Rockert, a lobbying firm, according to Ferguson, a charter member. Other lawmakers in the group included Nolan’s USC friends, Dennis Brown and John Lewis, along with Frank Hill of Whittier, Ross Johnson of La Habra, William P. Baker of Danville, Bev Hansen of Santa Rosa, William P. Duplissea of San Marcos and a few others.
In 1986, despite a divisive Republican primary in which several Nolan-backed candidates were defeated, the GOP picked up three Assembly seats.
Within Reach
With 36 Republican members, five short of a majority, Nolan’s goal suddenly seemed within reach, if not in 1988, then perhaps by 1990–in time to redistrict the state.
In preparing for the 1988 elections, Nolan stepped up his fund-raising in a continuing effort to compete with Speaker Brown.
“You’re there to make a difference,” Saracino explained. “The way to do that is to compete with the Democrats on an equal footing. The way to do that is to raise political contributions. Legally.”
Another former Nolan employee believed that his boss had become too eager to collect money. “Willie Brown would never have walked across the street to pick up a check at the Hyatt Hotel,” where Nolan met with FBI agents posing as businessmen, the ex-staffer said. “Pat apparently did.”
By 1988, Nolan’s life had changed. He was married and his wife was expecting a baby. On June 28, the night he was originally scheduled to meet with “businessmen” who later proved to be FBI agents, he also planned to attend a natural childbirth class with his wife, his calendar shows. (He postponed his meeting with representatives of the bogus company to June 29, when he and an aide picked up the checks that have caused Nolan so much trouble.)
Nolan’s daughter was born a month later.
On the surface at least, Nolan had everything he wanted, according to Bilenda Harris. A family. A promising career.
But on Aug. 24, 30 FBI agents armed with search warrants raided the Capitol offices of Nolan, aide Karin Watson, and Assemblyman Hill. The FBI searched offices of Democrats as well–Assemblywoman Gwen Moore of Los Angeles, her aide Tyrone Netters, and Sen. Joseph B. Montoya of Whittier. Former Democratic Sen. Paul Carpenter, now a member of the State Board of Equalization, was questioned by the FBI.
While the federal investigation bruised the Democrats, it struck at the heart of the Assembly Republican leadership.
Many are convinced that the sting hurt Republicans at the polls last November.
“The Pat Nolan name was for the first time as negative as Willie Brown,” said one GOP lawmaker, who asked not to be identified. The contributions raised by Nolan for other Republicans suddenly became “tainted money, dirty money,” a liability for members in close races, the assemblyman said. “The Democrats beat them to death.”
Instead of picking up additional seats in the November election, the Assembly Republicans lost three. The losses finished whatever hopes Nolan might have had of remaining GOP leader.
Now his prospects for the future are uncertain.
Even if he is exonerated, his connection to the FBI sting could hamper his hope of ever running for an office outside his own heavily Republican district, according to two Republican assemblymen, who asked not to be identified.
His friends, however, believe that he will in the end be vindicated and that his career can recover.
“This is an ethical cloud, even if nothing comes of it,” said his former top aide, Saracino.
Analyst enthusiasm built ahead of an Oct. 1 product reveal. The launch adds fuel to the story.
Shares of AppLovin (APP -3.57%) rose 50.1% in September, according to data from S&P Global Market Intelligence. The climb reflected growing optimism ahead of the company’s Oct. 1 product event, which unveiled a self-serve ads platform aimed at e-commerce and other non-gaming advertisers (the company already has a strong foothold in gaming).
Leading up to the event, a string of bullish analyst actions late in the month bolstered investor sentiment for shares of the advertising technology company. In addition to boosting their price targets for the stock, the analysts expressed optimism for the upcoming expansion of its platform.
Image source: Getty Images.
Late last month, Wall Street leaned in. Multiple analysts raised price targets and highlighted AppLovin as a top idea, citing strong demand for the company’s next wave of AI-powered ad tools and a broader push beyond gaming advertisers. The anticipation centered on “Axon Ads Manager,” a self-serve portal designed to reduce manual onboarding and open the platform to more e-commerce brands.
That anticipation culminated on Oct. 1, when AppLovin began rolling out Axon Ads Manager on a referral or invitation basis — a timely move aimed at capturing holiday-season budgets and making it easier for non-gaming marketers to buy on the platform. The company also emphasized Axon as the artificial intelligence (AI) engine powering its ad matching.
The setup followed solid summer fundamentals. In early August, AppLovin reported 77% year-over-year top-line growth in the second quarter. In addition, its net income margin expanded from 44% in the year-ago period to 65%, helping its bottom line soar 164% year over year to a substantial $820 million for the quarter.
After September’s rally, AppLovin now trades at an extremely high valuation. Shares trade at a price-to-earnings multiple of 88 as of this writing. Clearly, there are high expectations for Axon’s adoption, e-commerce penetration, and continued margin expansion for the overall company.
From here, investors should watch three things. First, the Axon Ads Manager rollout pace — particularly how quickly referral-only access broadens and how many non-gaming advertisers start spending meaningfully. Second, investors should focus on fundamentals, looking for sustained revenue and free cash flow growth at high rates throughout the holiday quarter and beyond. Finally, keep an eye out for competitive response across ad tech — especially as rivals court the same e-commerce budgets with their own AI-assisted tools. If the uptake of the new Axon Ads Manager is slower than expected, or the macroeconomic environment prompts markets to tighten ad budgets, shares could underperform; the valuation multiple leaves little room for disappointment.
Daniel Sparks and his clients have no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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Amazfit welcomes back Hunter McIntyre and expands its elite athlete team for the 2025/26 HYROX season with Rich Ryan, Joanna Wietrzyk, Emilie Dahmen, and Linda Meier
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MILPITAS, Calif. — Amazfit, a leading global smart wearables brand by Zepp Health (NYSE: ZEPP), and the Official Timing & Wearable Partner of HYROX, today announced the expansion of its HYROX athlete roster, with Hunter McIntyre (USA) returning for another season and four standout competitors joining the team: Rich Ryan (USA), Joanna Wietrzyk (Australia), Emilie Dahmen (Netherlands), and Linda Meier (Germany).
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This roster reflects Amazfit’s commitment to supporting both proven champions and emerging talent in functional fitness racing, while integrating athlete feedback directly into product innovation.
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This roster reflects Amazfit’s commitment to supporting both proven champions and emerging talent in functional fitness racing, while integrating athlete feedback directly into product innovation.
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Hunter McIntyre
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– Widely regarded as the face of HYROX, McIntyre remains one of the sport’s most dominant and influential athletes. A multiple-time champion with a loyal fanbase, he continues to push boundaries in competition and beyond, leading training camps and outdoor adventure races. McIntyre has been instrumental in Amazfit product development, relying on the rugged
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Amazfit T-Rex series
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to fuel his relentless pursuit of podium finishes.
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“I’m excited to be returning to Team Amazfit for another few years. The products are great, they listen to me when I have input, and I feel like I am getting actionable insights that are helping to drive my training. We almost got it done last year in Chicago — this year I’m here for the gold.”
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Rich Ryan
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– Known for his data-driven approach and coaching influence, Ryan brings dual impact as an elite competitor and educator. One of the fastest men on the HYROX course, he pairs his athlete achievements with seminars and coaching through his RMR training company. Ryan’s deep demand for precision aligns seamlessly with Amazfit’s
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Balance 2
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Helio series
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, making him a trusted partner in advancing performance metrics for athletes everywhere.
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“I joined Team Amazfit because of their commitment to HYROX and hybrid training. I believe hybrid training and competition can help athletes grow into healthier, more effective versions of themselves, and having partners who share those values is really important to me. I’m also excited to collaborate with the team at Amazfit, who continue to push innovation and show real ambition in this space.”
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Joanna Wietrzyk
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– A breakout star from Australia, Wietrzyk stunned the HYROX community with a second-place finish in Chicago. A former competitive tennis player, she is quickly emerging as a top contender across solo and doubles formats. Wietrzyk, who will be sporting the
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Amazfit T-Rex 3
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, values her close collaboration with Amazfit’s sports marketing team and is poised to elevate both her career and the brand’s visibility globally.
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“After an incredible first season in HYROX, I’m focused on building momentum and pushing my performance even further this year. That means going beyond what I’ve done before and partnering with teams that truly support the way I train, recover, and compete. Amazfit does exactly that. Their technology helps me stay consistent and intentional, whether I’m tracking key metrics during intense sessions or monitoring recovery post-race. Amazfit gives me the right tools to train smarter, stay balanced and continue progressing – and that’s what makes this partnership so exciting.”
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Emilie Dahmen
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– One of the sport’s most exciting rising stars, Dahmen captured attention by winning two HYROX races in her debut season and finishing sixth at the World Championships. Still early in her career, she represents the next generation of HYROX talent. Dahmen’s embrace of Amazfit wearables, specifically the
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Balance 2
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Helio Strap
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, makes her a natural fit for the team as she continues her rapid ascent.
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“I hadn’t relied on a watch or performance data before, and reaching the HYROX Elite 15 without it was already a huge achievement. Partnering with Amazfit now gives me the tools to train smarter, recover better, and truly compete at the highest level. Their technology helps me unlock even more potential, and I hope to inspire others to see how powerful smart training can be.”
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Linda Meier
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– The reigning HYROX World Champion, Meier delivered a career-defining performance in Chicago to secure her title. Already a respected competitor, her consistency and professionalism make her an invaluable ambassador. Meier relies on the
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Amazfit Helio Strap
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Amazfit T-Rex 3
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for advanced data insights, helping her balance performance and recovery at the highest level.
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“With Amazfit by my side, I can combine my World Champion spirit with smart technology – showing that anyone can push beyond their limits with the right tools.”
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“Our partnership with HYROX is about helping athletes maximize every moment of training, performance, and recovery,” said Scott Shepley, Head of Global Marketing of Amazfit. “By signing a roster that blends world champions with promising new talent, we’re reinforcing Amazfit’s role as the performance partner of choice for athletes who trust data to fuel their goals.”
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As part of Team Amazfit, these athletes will contribute to product testing, content storytelling, and community engagement, ensuring Amazfit continues to deliver cutting-edge tools that meet the evolving demands of functional fitness athletes.
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Athletes and fans can explore Amazfit’s full range of smart wearables — including the T-Rex series, Balance 2, Active 2, and Helio Strap — at www.amazfit.com, and follow the brand’s HYROX journey throughout the 2025/26 season.
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About Amazfit
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Amazfit, a leading global smart wearable brand focused on health and fitness, is part of Zepp Health (NYSE: ZEPP), a health technology company with its principal office based in Gorinchem, the Netherlands. Zepp Health operates as a distributed organization, with team members and offices across the Americas, Europe, Asia, and other global markets.
When he first started spreading the word about Waymond Jordan, Mike Bennett figured the film would speak for itself. The Escambia High coach had been in the South Florida preps scene long enough to know what he was seeing from his new running back.
“Just watching him run the football for the first time, he was amazing,” Bennett said. He figured scholarship offers would roll in soon enough.
Jordan had similar expectations. Since he first picked up football, at 4 years old, he’d always told himself that he’d play at a big school, on the biggest stage. He’d come to Escambia as a senior with that in mind.
But in 2021, four years before Lincoln Riley and USC would see that same star potential, other college coaches, for whatever reason, weren’t paying much mind.
USC running back Waymond Jordan carries the ball during a win over Georgia Southern at the Coliseum on Saturday. Overlooked earlier in his career, Jordan has become a key piece of the Trojans’ offense.
(Carlin Stiehl/Los Angeles Times)
Given where Jordan stands today — the top running back on one of the nation’s top rushing offenses through two weeks of the college football season — plenty of them probably regret that now.
“Every coach in the country, I sent stuff to,” Bennett said. “I mean, everybody. I sent it out to everybody.”
Some smaller schools monitored Jordans’ senior year at Escambia, keeping a close eye as he rushed for 1,225 yards and 12 touchdowns. A few schools said he could walk-on. But none of them extended a scholarship offer. Jordan couldn’t understand why.
Hutchinson Community College, a junior college in Hutchinson, Kan., was one of the only places to give him an opportunity. Hutchinson was a thousand miles from his hometown of Pensacola, and a world away from the major college football he thought he’d be playing. But the staff there knew Escambia well, and they believed in what they saw in Jordan’s tape.
If all went well with junior college, he could still get the Power Four offers he was looking for.
“He believed in himself. And he bet on himself,” said Greg Cross, the Hutchinson running backs coach. “And I would say he bet right.”
Cross figured it was a worthy bet then, before most anyone else. He could see on film that Jordan had a rare instinct for making defenders miss. In the open field, not many people could bring Jordan down on their own either. In some ways, his skillset reminded Cross a little bit of Alvin Kamara, who played the 2014 season at Hutchinson.
“But that wasn’t going to happen for him overnight,” Cross said.
USC’s Waymond Jordan stretches out to score a touchdown against Georgia Southern at the Coliseum on Saturday.
(Sean M. Haffey / Getty Images)
Jordan was by no means a finished product on arrival at Hutchinson. He hadn’t really learned yet how to take care of his body. He was out of shape. He needed to add muscle and change his diet. Plus, he struggled early on with pass protection.
Then his hamstrings started bothering him.
“I knew it was in the best interest for him to redshirt,” Cross said.
Hutchinson could afford to be patient with him. But it was a tough pill to swallow for Jordan.
“He went through a phase where he was kind of down,” Cross said. “We had a lot of talks. We would talk every day. I just wanted to keep him focused, keep him locked in, keep him motivated.
“So, me and him had a talk about it, and I said, ‘You can either let it get the best of you, or you can stay motivated and work 10 times as hard.’”
It was a formative chat for Jordan. Cross implored him to get serious about taking care of his body. He wanted him in the training room every day. They started tracking his meals. He began using the head coach’s YMCA membership.
From then on, Cross says, “I was grilling him, 24/7.”
He came back that second season looking like an entirely different player. He lost weight. He was stronger and more explosive. He had a full recovery routine.
But his hamstring was still acting up. Then, after appearing in two games as a redshirt freshman, Jordan suffered a minor fracture in his foot.
“It felt, to him, like he couldn’t catch a break,” Cross said.
He wore a boot for a couple of weeks. When he came back, he had to play through pain.
Even still, there were glimpses of what Jordan could be. Late in the season, in a game against No. 2 ranked Iowa Western Community College, Jordan broke out with two fourth-quarter rushing scores, one from 47 yards out, the other from 16, that helped put Iowa Western away. He finished with four carries for 99 yards and two touchdowns.
Hutchinson lost its next game to East Mississippi Community College and fell short of an NJCAA national title in 2023. But for Jordan, everything was trending upward that offseason.
“You really saw him take that next step,” said Drew Dallas, Hutchinson’s head coach. “It was just how quickly he was hitting the hole, how fast and confident he was playing. He’d trimmed down his body fat to hardly any at all. He was just this rocked-up ball of muscle who could see the field really well.”
That spring, as word got around, some smaller schools like Florida Atlantic and Florida International started asking about him.
By the end of that spring, Jordan had the scholarship offers he’d been waiting for.
Cross figured he would take the opportunity and run with it. And he wouldn’t have blamed him for doing so. In fact, he couldn’t remember anyone in his time at Hutchinson turning down an FBS opportunity to return to junior college.
But in Jordan’s case, he believed bigger offers could come.
“He told me that if I stayed, I would be able to come to places like [USC,]” Jordan recalls. “That it would all pay out in the end.”
USC running back Waymond Jordan cuts and changes direction while carrying the ball against Georgia Southern at the Coliseum on Saturday.
(Carlin Stiehl/Los Angeles Times)
Jordan called Cross back with a decision just a few minutes after their conversation.
“When you leaving?” Cross remembers asking him.
“He says no, ‘Coach, I’m gonna stay. I know what I can be.’”
Cross was stunned at the time. Thinking back on that conversation, he laughs.
“He put it all on red, I guess,” he said.
But it took all of one week that season for Jordan’s bet to be vindicated. He rushed for 179 yards and two touchdowns during Hutchinson’s season opener on just 14 carries. That Sunday, Cross got a call from a coach at Michigan State. Was Jordan for real? Because, he said, they were watching closely.
It was “one phone call after another, every week after that,” Cross said. Jordan rushed for 174 yards the following week, then 175 yards and four touchdowns on just nine carries in Week 4. Over a two-week stretch in November, Jordan exploded for 348 yards and four touchdowns, prompting Missouri and Central Florida, two Power Four schools, to offer him scholarships.
He finally had the opportunity he’d been waiting for. So in December, just before the NJCAA playoffs, Jordan committed to Central Florida.
USC didn’t come into the picture until later that month, just as Jordan was named the junior college national player of the year. Other Power Four schools, like North Carolina and Mississippi, were already making their cases to Jordan. But USC had a connection to Cross through Doug Belk, the Trojans’ secondary coach.
USC didn’t necessarily have a need at running back, having already added explosive New Mexico transfer Eli Sanders to its class. But when Anthony Jones, USC’s running backs coach, spoke to Jordan on the phone, he came away convinced that “USC needed this young man.”
“Waymond checked all the boxes that we were looking for,” Jones said.
Hutchinson beat Iowa Western to win the NJCAA national title in spite of Iowa Western’s all-out efforts to bottle up the Blue Dragons’ star running back. Two weeks later, he was on USC’s campus.
As soon as Jordan called him during his visit to L.A., Cross knew he was committing to USC.
Nine months later, the same running back who didn’t have a single Division I offer as a high school senior was bursting out of the USC backfield, weaving through a crowd of defenders on his way into the Coliseum end zone, just like Reggie Bush, Marcus Allen and O.J. Simpson once did.
As he scored his first touchdown as a Trojan, Jordan looked up into the stands and saw his family.
He’d waited four sometimes-frustrating years for that moment.
“His patience, his perseverance really built him into something a lot bigger and better,” Dallas said.
“I think that’s as big of a part of his journey as anything.”
Asia’s popular culture wave that for two decades has been dominated by two giants. South Korea with its K-Pop wave and dramas, and Japan with its manga and anime, which is now undergoing a fundamental shift. A new force that is tough and colorful has risen from China, not through idol groups or ninjas, but through a small figure with pointed ears and a mysterious smile named Labubu. This figurine by Hong Kong artist Kasing Lung is not just a toy but the spearhead of a huge wave of Chinese popular culture that is ready to challenge and even dictate global tastes. Labubu and his predecessors and companions raise provocative questions about whether we will soon say goodbye to the dominance of K-Pop and manga.
Labubu, as a character from The Monsters line by the Pop Mart brand, is a real example of how China combines the power of storytelling, design, and a brilliant business model. Pop Mart, which was founded in 2010, has transformed into a multi-billion-dollar blind box empire. In 2022, the company reported operating income of 4.62 billion RMB yuan, or around 679 million US dollars, with a net profit of 539 million RMB yuan, equivalent to 79.3 million US dollars. Its global growth is even more astonishing, with revenue in overseas markets soaring 147.1 percent in the same year. As of June 2023, Pop Mart has opened more than 500 stores in 23 countries and regions, including fashion centers such as Paris, London, and New York. Global market research institute Frost & Sullivan explained that Pop Mart successfully leverages consumer psychology through a blind box model that creates a sense of anticipation, collection, and community. This model is more than just a toy; it is a social and cultural experience that changes the way people interact with cultural products.
When compared to Korean and Japanese popular cultural commodities, there are fundamental differences in business models and accessibility. The Japanese industry is based on long and complex narrative stories such as manga and anime, where consumers invest time and emotions to follow a series. The merchandise is often expensive and aimed at serious collectors. While South Korea focuses on idolization through K-Pop, where fans not only buy music but also merchandise, concert tickets, and albums in various versions to support their idols. These ecosystems are built around human stars. On the other hand, Chinese products such as Pop Mart and Labubu are more abstract and decorative. Consumers don’t need knowledge of complicated stories to have them. The price is relatively affordable, around 15 to 30 US dollars per box, so it is impulsive and easily accessible to Generation Z and millennials. This is a lighter and more visual form of cultural consumption.
In terms of global impact and cultural adaptation, K-Pop and Korean dramas have managed to export Korean values, fashion, and language to the rest of the world through the Hallyu wave with cultural ambassadors such as BTS and Squid Game. Japanese manga and anime became the foundation of global subcultures such as cosplay and conventions that influenced artists and filmmakers in the West for decades. Chinese pop culture for now exports less specific Chinese lifestyles and focuses more on aesthetics and business models. People buy Labubu because its designs are unique and funny, not because it represents a specific Chinese mythology, even though some characters are inspired by it. It is a subtle globalization of products with universally accepted Chinese design DNA. The role of the government is also a crucial differentiator. China’s National Bureau for Cultural Exports and Imports actively encourages the export of cultural products as part of the national soft power strategy. Meanwhile, Korean and Japanese industries are driven by private companies with government support that is more facilitative.
Labubu is just a symptom of a larger creative ecosystem that is exploding in China. Donghua, or Chinese animations, such as The King’s Avatar and Mo Dao Zu Shi, have a huge fan base and compete directly with Japanese anime on streaming platforms, with the number of views reaching billions. Novel web platforms such as China Literature have become repositories of intellectual property, with millions of titles adapted into dramas and successful games, creating vertical synergies resembling the Marvel Cinematic Universe. The mobile gaming industry in the hands of Tencent and NetEase is becoming a global giant. Games like Genshin Impact from miHoYo or HoYoverse are not only financially successful, with annual revenues reaching billions of dollars, but also win the hearts of global players through the quality of animation and awesome stories with a distinctively Chinese twist.
Ultimately, the rise of Chinese pop culture is not a sign to say goodbye to K-Pop and manga. This wave is precisely a powerful new challenger that is diversifying and democratizing global tastes. The market now has more options where a fan can love Korean dramas, collect Labbubu figurines, and play Genshin Impact and still look forward to the latest manga chapters at the same time. The dominance of popular culture is no longer held by just one or two countries. Labubu and its ecosystem are symbols of a new era where China is no longer a follower of pop culture trends but rather a trendsetter. They have learned the recipe for success from Japan and Korea in terms of content quality, merchandising, and fan community and added manufacturing strength, innovative business models, and strong state support. This is not a war to be won, but rather an evolution in which the global pop culture stage is expanded with new players full of confidence. The right greeting is not goodbye, but welcome to competition. For fans around the world, this is good news because there will always be more interesting things to love.

Holidaymakers visiting the Cornish seaside town of Polzeath were left stunned to discover their cars slowly disappearing beneath the waves over the bank holiday weekend.
Video footage captures vehicles parked in the town on Cornwall’s north coast as the tide creeps up around their wheels, with panicked visitors scrambling to save their cars before they vanished underwater.
Dramatic scenes showing a 2010 Subaru Outback in danger were filmed by 34-year-old Sam Peters, who witnessed the mayhem as good Samaritans rallied to help the motorist retrieve their vehicle.
He said: “Everyone was panicking and it caused much distress. Many onlookers were surprised and concerned, and some tried to help.
“Several cars got caught in the rising tide and became stuck on the beach. The car finally got pushed out by many supporters on the beach.”
This marks yet another occasion that tourists and residents have witnessed cars stranded by the waves at Polzeath, reports Cornwall Live.

Further footage, filmed in May, revealed a Mini falling foul of the tide on the same stretch of sand. The clip, recorded by the Polzeath Beach Ranger Service, depicted the vehicle parked and encircled by water.
In a Facebook post, they cautioned drivers about the perils of parking on sand. They said: “If you drive over seaweed to get to your parking space, consider how the seaweed might have been delivered.”
Despite the cheeky comment, the service confirmed that the owner managed to rescue their car before it was carried off during one of the May bank holidays.

A spokesperson for the service, speaking to Cornwall Live, offered some advice to drivers on how to avoid a similar situation.
They explained: “On this occasion, the tide was at its highest that day, but we do sometimes have higher spring tides. Many factors affect the height of the tide, including sun and moon phases, wind, waves and atmospheric pressure.
“It’s a beach car park – one of the last in the region – and it serves as a valuable resource for tourism and the community. It also helps to raise money to pay for necessary services like lifeguards, beach cleaning, road sweeping, bin emptying and toilets.
“As with all coastal destinations, there are risks associated with tides, weather and the landscape, and we encourage visitors to be aware of that. There are visible warning signs.”
Walmart’s second-quarter results are showing that United States consumers across the spectrum are still flocking to the retailer’s stores despite economic headwinds, but its shares have dipped as the company’s margins ebbed and inventory costs rose.
The world’s largest retailer has scooped up market share from rivals as wealthier consumers frequent the store more often, worried about the effects of tariffs on prices, the company’s results on Thursday showed.
That has fueled an 85 percent surge in the stock over the last year-and-a-half that some analysts say has made its valuation too lofty.
Shares were down 4 percent in midday trading in New York, as its second-quarter profit was lower than expected, registering Walmart’s first earnings miss in more than three years.
Investors also focused on Walmart’s gross margins for the quarter, which fell short of their expectations, even though the company raised its fiscal year sales and profit forecasts.
Overall gross margins were about flat at 24.5 percent versus 24.4 percent last quarter, missing consensus estimates of 24.9 percent, according to brokerage DA Davidson.
“Expectations were high for a margin beat and we didn’t get that, so we’re getting a little bit of a pullback on the stock,” said Steven Shemesh, RBC Capital Markets analyst.
Still, the Bentonville, Arkansas-based chain’s results showed it has continued to benefit from growing price sensitivity among Americans, earning revenue of $177.4bn in the second quarter. Analysts on average were expecting $176.16bn, according to LSEG data. Adjusted earnings per share of 68 cents in the second quarter fell short of analyst expectations of 74 cents.
Consumer sentiment has weakened due to fears of tariffs fueling higher inflation, hitting the bottom lines of some retail chains, but Walmart’s sales have remained resilient. Companies have been able to withstand paying those import levies through front-running of inventories, but as those products are sold, the next shipments are pricier, Walmart CEO Doug McMillon said.
“As we replenish inventory at post-tariff price levels, we’ve continued to see our cost increase each week,” he said on a call with analysts, noting those costs will continue rising in the second half of the year. The effects of tariffs have so been gradual enough for consumer habits to change only modestly.
Walmart had warned it would increase prices this summer to offset tariff-related costs on certain goods imported to the US, a move that drew criticism from President Donald Trump. Consumer-level inflation is increasing modestly, while wholesale inflation spiked in July to its fastest rate in more than three years.
According to an S&P Global survey released on Thursday, input prices paid by businesses hit a three-month high in July, with companies citing tariffs as the key driver. Prices charged by businesses for goods and services hit a three-year high, as companies passed along costs to consumers. A day earlier, rival Target warned of tariff-induced cost pressures.
Walmart got a boost from a sharper online strategy as more customers relied on home deliveries. Its global e-commerce sales jumped 25 percent during the second quarter, and Walmart said one-third of deliveries from stores took three hours or less.
McMillon expects current shopping habits to persist through the third and fourth quarters. He noted middle- and lower-income households are making noticeable adjustments in response to rising prices, either by reducing the number of items in their baskets or by opting for private-label brands. This shift has not been seen among higher-income households, which Walmart defines as those earning over $100,000 annually.
Walmart expects annual sales to grow in the range of 3.75 percent to 4.75 percent, compared to its prior forecast of a 3 percent to 4 percent increase. Adjusted earnings per share are expected in the range of $2.52 to $2.62, compared to its previous range of $2.50 to $2.60.
Chief Financial Officer John David Rainey said the company is looking at more possible financial outcomes than before because of trade policy talks, uncertain demand, and the need to stay flexible for future growth. Based on what it saw in the second quarter, Walmart expects the impact on margins and earnings from the higher cost of goods to be smaller in the current quarter than it previously thought, Rainey said.
“Broad consumer and macro trends remain favourable to Walmart, especially in the shape of consumers wanting to maximise bang for their buck,” said Neil Saunders, managing director of retail consultancy GlobalData.
Walmart’s total US comparable sales rose 4.6 percent, beating analysts’ estimates of a 3.8 percent increase. The company noted strong customer response to over 7,400 “rollbacks,” its term for discounted prices, with 30 percent more rollbacks on grocery items.
Average spending at the till rose 3.1 percent from an increase of 0.6 percent last year, but growth in customer visits fell to 1.5 percent from 3.6 percent in the year-earlier period. Walmart logged 40 percent growth in marketplace sales, including electronics, automotive, toys, and media and gaming.
Two-thirds of what Walmart sells in the US is domestically sourced, executives had said last quarter, which gave it some insulation from tariffs compared to competitors.
Antonio Campos carries the blood of his legendary father, former Galaxy and Mexican national team goalkeeper Jorge Campos. Perhaps more important, he carries his family’s resilience after they worked to recover from the loss of their home in the Palisades fire.
During Antonio Campos’ first season with the Cal State Fullerton soccer team, he seeks to write his own story and help his team win.
“Just being in college is a success. I feel blessed,” said Antonio, who is studying business while fighting for minutes as a Division I goalkeeper.
He was born in Los Angeles and grew up in the Pacific Palisades area, the second son of Jorge Campos and Canadian Marcy Raston. His sisters chose to focus on volleyball: Andrea, the eldest, recently signed with a professional club in France after a successful college career. Antonio, on the other hand, was torn between basketball and soccer. At Loyola High, he played point guard, although his height, at 6 feet, limited his minutes.
Antonio Campos stands besides his parents, Marcy Raston and Jorge Campos, while wearing Cal State Fullerton gear.
(Courtesy of Campos family)
“Michael Jordan inspired me to play several sports,” said Antonio, who also played baseball and volleyball.
Training sessions with his father during the COVID-19 pandemic led Antonio to eventually focus on soccer and the goalkeeper position.
“With my dad, everything is intense. Lots of training on the beach, reflexes, technique, cutting crosses. Things he did better than anyone else,” said Antonio, who does not shy away from his surname but does not want it to define him.
“I don’t feel pressure. I prefer to teach the values my father instilled in me,” Antonio said.
Galaxy goalkeeper Jorge Campos celebrates during a 1996 game against the San Jose Clash at the Rose Bowl in Pasadena.
(Getty Images)
He is part of the first generation in his family to attend college in the U.S. and he knows that his path extends beyond soccer.
In Mexico, Antonio also didn’t feel he had much of a future, as his own father, Jorge, criticized goalkeeper trainers in that country last year.
“It’s incredible that after 30 years, 40 years, we don’t have a modern goalkeeper, of that style, like Manuel Neuer, Ter Stegen,” Jorge said in a recent interview with ESPN.
Antonio was drawn to Cal State Fullerton as more than just a place to improve his soccer skills. The team’s philosophy, focused on service, ambition and personal development, resonated with him and his family.
“We emphasize being good people. If you go far, you’ll be better socially and culturally,” explained George Kuntz, the Titans’ veteran coach.
Antonio had had doubts about playing college soccer.
“I didn’t want to play at the university level because first-year goalkeepers hardly ever play,” he said.
However, he was assured that everyone would have real opportunities if they earned them through training.
Between the posts, he will have to fight for minutes against quality teammates Eoin Kennedy, Asger Hemmer and Emanuel Padilla. Fullerton opens the regular season on Thursday at Oral Roberts in Tulsa, Okla.
“I want to play, yes, but I also want my teammates to improve. It’s not just about me,” Antonio said.
In 2024, the Titans stood out for their offensive prowess, but they also ranked among the worst teams in the country in goals conceded. That’s why Fullerton reinforced its defense with four goalkeepers on the roster. Antonio is emerging as one of the promising players, with an athletic profile and an ambitious personality that has impressed the coaching staff.
“He’s brave, has good technique and is improving tactically,” Kuntz said.
Earlier this year, Antonio’s focus was pulled away from soccer by a family emergency.
In January, the Campos family home was one of more than 6,800 destroyed by the Palisades fire.
“We lost everything. I couldn’t get anything out,” said Antonio, who still gets emotional while talking about his family’s loss.
That day, he thought about going home, but he decided to go to soccer training after receiving a message from a friend. The change of plans kept him safe.
Antonio was accustomed to evacuations and didn’t worry about the nearby fires. But after learning that his home had burned down, the loss was both material and emotional.
“My mom was devastated. It was her first home in this country,” said Antonio, who highlighted his father’s strength.
“What surprised me was seeing my dad laughing and joking the next day. I never saw him cry. He set an example for us.”
Among the lost items, Antonio regrets he could not save a necklace that his uncle gave him before he died.
“He supported me when I quit basketball. He told me I was going to be a professional. It hurt me to lose that,” Antonio said.
However, the fire also brought the family closer together.
“The most important thing for me was that my family was safe,” Antonio said.
Now, the Campos family lives a few miles from Antonio’s new university while Antonio works to create his own story on the pitch — one that he hopes, like his father’s, can inspire others.
This article first appeared in Spanish via L.A. Times en Español.
Itauma has shown maturity beyond his years since winning in just 23 seconds on his professional debut in 2023 – and has continued to excel with every step up.
Heavyweight rivals Joseph Parker, Derek Chisora and Lawrence Okolie were among those watching at ringside as the rising star put on another statement performance.
The Slovakia-born fighter walked first to the ring, despite being the A-side, but was made to wait for more than three minutes – longer than the fight lasted – by Whyte, who delayed his entrance.
After throwing a few early feints to get a read on his opponent, Itauma started to unload and quickly found the range for his heavy hands.
Whyte was clearly feeling the power and back on the ropes as Itauma picked his shots carefully.
A right hook to the temple proved the telling blow and, despite bravely getting back to his feet, Whyte was deemed not fit to continue.
“How he did it, his temperament, control and composure – he fights better than guys at their peak and he is 20 years of age,” Queensberry’s Frank Warren, who promotes Itauma, told BBC Radio 5 Live.
“He did a job on somebody who has been at the best levels.”
Despite getting into the shape of his career – weighing the lightest for 10 years – Whyte could not cut it with Itauma and questions linger over his future.
Itauma’s dreams of becoming the youngest heavyweight champion in history ended in May, but this victory puts him firmly on track for a title shot in boxing’s glamour division in the next 12 months.
With Tyson Fury in retirement, Anthony Joshua in the twilight of his career and Daniel Dubois losing his IBF title to Usyk last month, Itauma once again demonstrated he is the great British heavyweight hope in waiting.
Possible ways to mitigate the risk include armouring the coastline and building breakwaters to relocating the monuments.
The Journal of Cultural Heritage has published a new study indicating that rising sea levels could push powerful seasonal waves into Easter Island’s 15 iconic moai statues, in the latest potential peril to cultural heritage from climate change.
“Sea level rise is real,” said Noah Paoa, lead author of the study published on Wednesday and a doctoral student at the University of Hawaii at Manoa’s School of Ocean and Earth Science and Technology. “It’s not a distant threat.”
About 50 other cultural sites in the area are also at risk from flooding.
Paoa, who is from Easter Island – a Chilean territory and volcanic island in Polynesia known to its Indigenous people as Rapa Nui – and his colleagues built a high-resolution “digital twin” of the island’s eastern coastline and ran computer models to simulate future wave impacts under various sea level rise scenarios. They then overlaid the results with maps of cultural sites to pinpoint which places could be inundated in the coming decades.
The findings show waves could reach Ahu Tongariki, the largest ceremonial platform on the island, as early as 2080. The site, home to the 15 towering moai, draws tens of thousands of visitors each year and is a cornerstone of the island’s tourism economy.
Beyond its economic value, the ahu is deeply woven into Rapa Nui’s cultural identity. It lies within Rapa Nui National Park, which encompasses much of the island and is recognised as a UNESCO World Heritage Site.
The roughly 900 moai statues across the island were built by the Rapa Nui people between the 10th and 16th centuries to honour important ancestors and chiefs.
The threat isn’t unprecedented. In 1960, the largest earthquake ever recorded – a magnitude 9.5 off the coast of Chile – sent a tsunami surging across the Pacific. It struck Rapa Nui and swept the already-toppled moai further inland, which damaged some of their features. The monument was restored in the 1990s.
While the study focuses on Rapa Nui, its conclusions echo a wider reality: Cultural heritage sites worldwide are increasingly endangered by rising seas. A UNESCO report published last month found that about 50 World Heritage sites are highly exposed to coastal flooding.
A UNESCO spokesperson told The Associated Press news agency that climate change is the biggest threat to UNESCO’s World Heritage marine sites. “In the Mediterranean and Africa, nearly three-quarters of coastal low-lying sites are now exposed to erosion and flooding due to accelerated sea level rise.”
Possible defences for Ahu Tongariki range from armouring the coastline and building breakwaters to relocating the monuments.
Paoa hopes that the findings will bring these conversations about now, rather than after irreversible damage. “It’s best to look ahead and be proactive instead of reactive to the potential threats.”